- Debenhams said it would carefully consider Sports Direct's offer to provide the company with an interest free 12-month loan of £150m in exchange for a further 5% stake as it required consent of its creditors.

'Any third party loan offer on these terms would require both the consent of our RCF Lenders and Noteholders and material amendments to existing facilities,' Debenhams said. If approved, Sports Direct holding in Debenhams would increase to 35% and Mike Ashley, founder & chief executive of Sports Direct, would become the CEO of Debenhams. Debenhams confirmed the offer was received on Wednesday. At 8:27am: [LON:DEB] Debenhams PLC share price was +0.11p at 3.32p

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